Zoetis Inc. (NYSE:ZTS) Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC lowered its stake in Zoetis Inc. (NYSE:ZTS) by 34.3% during the third quarter, Holdings Channel.com reports. The firm owned 2,644 shares of the company’s stock after selling 1,383 shares during the quarter. Brown Capital Management LLC’s holdings in Zoetis were worth $517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cetera Investment Advisers lifted its holdings in Zoetis by 275.2% during the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after buying an additional 70,476 shares during the last quarter. Simplify Asset Management Inc. acquired a new position in Zoetis during the third quarter worth approximately $11,684,000. Soltis Investment Advisors LLC purchased a new stake in shares of Zoetis during the first quarter worth approximately $688,000. Bank Pictet & Cie Asia Ltd. grew its position in Zoetis by 41.0% in the 2nd quarter. Bank Pictet & Cie Asia Ltd. now owns 37,500 shares of the company’s stock valued at $6,501,000 after buying an additional 10,900 shares during the last quarter. Finally, Swedbank AB increased its stake in Zoetis by 56.2% in the 2nd quarter. Swedbank AB now owns 1,946,277 shares of the company’s stock valued at $337,407,000 after buying an additional 700,398 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ZTS. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research boosted their price objective on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Stifel Nicolaus upped their price target on shares of Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. raised their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Piper Sandler boosted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $221.44.

Zoetis Trading Up 0.1 %

Shares of ZTS opened at $175.67 on Thursday. The business’s 50-day moving average price is $186.18 and its 200 day moving average price is $180.47. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $79.26 billion, a P/E ratio of 33.02, a P/E/G ratio of 2.69 and a beta of 0.90. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the business earned $1.36 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

About Zoetis

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.